Common use of AGENT AGREES Clause in Contracts

AGENT AGREES. A. To manage on Owner’s behalf the rental, lease and operation of the Property in accordance with all applicable federal, state and local laws concerning the leasing and operation of residential property. Said services specifically do not include the loaning of money or the advancing of money to meet financial obligations and maintenance costs incurred with respect to the Property. B. To use its best efforts and diligence in securing tenants for rental of the Property, including advertising the Property and investigating employment, references and credit verification of prospective tenants at Agent’s expense. Agent will use its best efforts to get the highest possible rent for the Owner upon terms and price acceptable to Owner. C. To use diligence in the management of the Property for the period and upon the terms provided, and agrees to furnish services of Agent's organization for the renting, leasing, operation and managing of the Property, and to inspect the Property periodically exclusive of initial and final inspections with Tenant, or inspections necessitated by problems with the Property. Inspections are at the discretion of the Agent. D. At Owner’s expense, to make or cause to be made all ordinary repairs and replacements necessary to preserve the Property in its present condition for operating efficiency; to negotiate contracts for nonrecurring repair items not to exceed $ and to enter into agreements for all necessary repairs, maintenance, minor alterations, and utility services; and to purchase supplies and pay all bills. Agent shall secure the approval of the Owner for any single expenditure in excess of $ . If Owner elects to have major repairs and/or extensive renovations done while property is being managed by Agent, and Agent oversight is required, Owner and Agent must mutually agree to an additional fee to be paid by Owner to Agent for undertaking the responsibility of repair oversight. E. To render monthly statements of receipts, expenses and charges, and to remit to Owner receipts less disbursements, including Agent's Management Fee. Agent may provide monthly statements by e-mail, fax, or regular mail service. In the event the disbursements shall be in excess of the rents collected by the Agent, the Owner agrees to pay such excess promptly upon demand by the Agent. Agent will render a calendar year-end statement of all funds received and disbursed. F. To handle Tenants' security deposits in the manner described by law.

AGENT AGREES. A. To manage on Owner’s behalf the rental, lease and operation of the Property in accordance with all applicable federal, state and local laws concerning the leasing and operation of residential property. Said services specifically do not include the loaning of money or the advancing of money to meet financial obligations and maintenance costs incurred with respect to the Property. B. To use its best efforts and diligence in securing tenants for rental of the Property, including advertising the Property and investigating employment, references and credit verification of prospective tenants at Agent’s expense. Agent will use its best efforts to get the highest possible rent for the Owner upon terms and price acceptable to Owner. C. To use diligence in the management of the Property for the period and upon the terms provided, and agrees to furnish services of Agent's organization for the renting, leasing, operation and managing of the Property, and to inspect the Property periodically exclusive of initial and final inspections with Tenant, or inspections necessitated by problems with the Property. Inspections are at the discretion of the Agent. D. At Owner’s expense, to make or cause to be made all ordinary repairs and replacements necessary to preserve the Property in its present condition for operating efficiency; to negotiate contracts for nonrecurring repair items not to exceed $ $250.00 and to enter into agreements for all necessary repairs, maintenance, minor alterations, and utility services; and to purchase supplies and pay all bills. Agent shall secure the approval of the Owner for any single expenditure in excess of $ $250.00. If Owner elects to have major repairs and/or extensive renovations done while property is being managed by Agent, and Agent oversight is required, Owner and Agent must mutually agree to an additional fee to be paid by Owner to Agent for undertaking the responsibility of repair oversight. E. To render monthly statements of receipts, expenses and charges, and to remit to Owner receipts less disbursements, including Agent's Management Fee. Agent may provide monthly statements by e-mail, fax, or regular mail service. In the event the disbursements shall be in excess of the rents collected by the Agent, the Owner agrees to pay such excess promptly upon demand by the Agent. Agent will render a calendar year-end statement of all funds received and disbursed. F. To handle Tenants' security deposits in the manner described by law.